Max Retail to open outlet in Ahmedabad

Max Retail, belonging to the Landmark group, is all set to open its second outlet in the country at an upcoming mall of S G Highway.

The Dubai-based $1.6 billion firm has over 500 stores in the Gulf and will set up six stores in the next three years in Ahmedabad, Surat, Rajkot and Vadodara.

Each store will be spread over 20,000 sq feet with an investment of Rs 4-5 crore for each outlet.

"We plan to invest about Rs 30 crore in the state in the next three years", Vasanth Kumar, president of Max Retail Stores - India told Business Standard. Each store will generate revenue of Rs 8-10 crore per year, Kumar added.

"The mall will target 25-30 year age group of customers. The price range is from Rs 200-600," he said. The garments will be imported from Italy.

The second store in Ahmedabad will be at R3 mall, which will open in January. There are about 200 vendors in India who are working with Landmark, he said.

Kumar said, "In next five years we will set up 50 stores in 18 cities with a tune of about Rs 100 crore. Plans are on to go with reputed builders like DLF, MGF, Raheja and Unitech."